January 2022

Delinquencies dropped again in January to their lowest rate since at least January 1999 thanks to home price appreciation and the strong jobs market, according to CoreLogic’s monthly Loan Performance Insights Report for January 2022. Only 3.3% of all U.S. mortgages were in some stage of delinquency, a 2.3% drop YOY. January marked the tenth straight month of annual declines. Early-stage delinquencies (30 to 59 days past due) accounted for 1.2% of mortgages, down from 1.3% the year prior. Adverse delinquencies (60 to 89 days) were down from 0.5% in January 2021 to 0.3%.  Serious delinquencies (90 days, including loans in foreclosure) were down from 3.8% to 1.8%. Serious delinquencies hit a record high of 4.3% in August 2020. CoreLogic…